| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| Auto1 Group SE | 570,804 | 1,120,500 | 331.49 | 2.54 | 549,696 | 291.78 | 2.08 |
| Auto Total | 570,804 | 1,120,500 | 331.49 | 2.54 | 549,696 | 291.78 | 2.08 |
| Capitec Bank Holdings Ltd. | -9,412 | 112,017 | 461.77 | 3.54 | 121,429 | 504.63 | 3.60 |
| FirstRand Ltd. | 174,661 | 1,981,106 | 175.78 | 1.35 | 1,806,445 | 163.93 | 1.17 |
| Standard Bank Group Ltd. | 312,203 | 2,032,310 | 618.74 | 4.75 | 1,720,107 | 499.52 | 3.56 |
| Julius Baer Holdings | -16,644 | 160,484 | 198.83 | 1.53 | 177,128 | 230.72 | 1.65 |
| Nu Holdings Ltd | 96,252 | 754,427 | 179.31 | 1.38 | 658,175 | 183.73 | 1.31 |
| Banks Total | 557,060 | 5,040,344 | 1,634.43 | 12.54 | 4,483,284 | 1,582.54 | 11.29 |
| Cash on call | 0 | 0 | 56.47 | 0.43 | 0 | 68.45 | 0.49 |
| Cash on call Total | 0 | 0 | 56.47 | 0.43 | 0 | 68.45 | 0.49 |
| Advtech Ltd. | -103,661 | 5,876,788 | 245.59 | 1.88 | 5,980,449 | 222.65 | 1.59 |
| Melco Resorts and Entertainment Ltd | 1,865,654 | 1,870,916 | 179.82 | 1.38 | 5,262 | 175.86 | 1.25 |
| Consumer Services Total | 1,761,993 | 7,747,704 | 425.41 | 3.26 | 5,985,711 | 398.51 | 2.84 |
| Alphabet Inc A | 33,625 | 33,625 | 161.60 | 1.24 | 0 | 0.00 | 0.00 |
| Grab Holdings Ltd | 2,925,487 | 2,925,487 | 179.03 | 1.37 | 0 | 0.00 | 0.00 |
| IXIGO Company | 5,079,443 | 5,079,443 | 160.37 | 1.23 | 0 | 0.00 | 0.00 |
| Cyclical Goods & Services Total | 8,038,555 | 8,038,555 | 501.00 | 3.84 | 0 | 0.00 | 0.00 |
| LPL Financial Holdings | 55,170 | 55,170 | 281.29 | 2.16 | 0 | 0.00 | 0.00 |
| Mercadolibre Inc | 6,549 | 6,549 | 186.27 | 1.43 | 0 | 0.00 | 0.00 |
| Schwab Charles Corporation | 20,878 | 150,809 | 238.73 | 1.83 | 129,931 | 216.06 | 1.54 |
| Financial Services Total | 82,597 | 212,528 | 706.29 | 5.42 | 129,931 | 216.06 | 1.54 |
| DoorDash Inc | 54,361 | 54,361 | 138.50 | 1.06 | 0 | 0.00 | 0.00 |
| Food & Beverage Total | 54,361 | 54,361 | 138.50 | 1.06 | 0 | 0.00 | 0.00 |
| Foreign - Equities | 0 | 0 | 2,032.14 | 15.60 | 0 | 3,474.57 | 24.79 |
| Foreign Invest Total | 0 | 0 | 2,032.14 | 15.60 | 0 | 3,474.57 | 24.79 |
| Equity | 0 | 0 | 0.00 | 0.00 | 0 | 775.02 | 5.53 |
| General Equity Total | 0 | 0 | 0.00 | 0.00 | 0 | 775.02 | 5.53 |
| Financials positions individually less than 1% of fund | 0 | 0 | 188.23 | 1.44 | 0 | 253.18 | 1.81 |
| General Financial Total | 0 | 0 | 188.23 | 1.44 | 0 | 253.18 | 1.81 |
| Industrials positions individually less than 1% of fund | 0 | 0 | 1,103.85 | 8.47 | 0 | 629.19 | 4.49 |
| Mondi plc | -272,846 | 684,428 | 131.81 | 1.01 | 957,274 | 194.90 | 1.39 |
| General Industrials Total | -272,846 | 684,428 | 1,235.66 | 9.48 | 957,274 | 824.09 | 5.88 |
| Airbus Group NV | 2,247 | 41,087 | 130.32 | 1.00 | 38,840 | 149.89 | 1.07 |
| ASML Holding NV | 6,631 | 6,631 | 146.37 | 1.12 | 0 | 0.00 | 0.00 |
| Coupang Inc | 75,923 | 577,498 | 182.14 | 1.40 | 501,575 | 200.15 | 1.43 |
| Goods & Services Total | 84,801 | 625,216 | 458.83 | 3.52 | 540,415 | 350.04 | 2.50 |
| Glencore plc | 55,672 | 2,380,297 | 304.65 | 2.34 | 2,324,625 | 211.89 | 1.51 |
| Industrial Metals and Mining Total | 55,672 | 2,380,297 | 304.65 | 2.34 | 2,324,625 | 211.89 | 1.51 |
| AIA Group Limited | 1,005,400 | 1,005,400 | 186.25 | 1.43 | 0 | 0.00 | 0.00 |
| Elevance Health Inc | -28,974 | 0 | 0.00 | 0.00 | 28,974 | 167.13 | 1.19 |
| Insurance Total | 976,426 | 1,005,400 | 186.25 | 1.43 | 28,974 | 167.13 | 1.19 |
| PSG Financial Services Ltd. | -315,403 | 7,764,611 | 205.61 | 1.58 | 8,080,014 | 220.18 | 1.57 |
| Quilter plc | 2,919,071 | 7,374,883 | 291.01 | 2.23 | 4,455,812 | 180.68 | 1.29 |
| Investment Banking and Brokerage Services Total | 2,603,668 | 15,139,494 | 496.62 | 3.81 | 12,535,826 | 400.86 | 2.86 |
| Discovery Ltd. | 532,376 | 532,376 | 132.78 | 1.02 | 0 | 0.00 | 0.00 |
| Life Insurance Total | 532,376 | 532,376 | 132.78 | 1.02 | 0 | 0.00 | 0.00 |
| Resources positions individually less than 1% of fund | 0 | 0 | 316.12 | 2.43 | 0 | 165.30 | 1.18 |
| Mining Total | 0 | 0 | 316.12 | 2.43 | 0 | 165.30 | 1.18 |
| Bid Corporation Ltd. | -515,709 | 0 | 0.00 | 0.00 | 515,709 | 217.56 | 1.55 |
| Dis-Chem Pharmacies Ltd. | -209,627 | 7,161,328 | 265.61 | 2.04 | 7,370,955 | 257.98 | 1.84 |
| Shoprite Holdings Ltd. | -741,416 | 0 | 0.00 | 0.00 | 741,416 | 200.35 | 1.43 |
| Personal Care, Drug and Grocery Stores Total | -1,466,752 | 7,161,328 | 265.61 | 2.04 | 8,628,080 | 675.90 | 4.82 |
| Compagnie Financière Richemont SA | -24,810 | 60,033 | 177.61 | 1.36 | 84,843 | 307.73 | 2.20 |
| Personal Goods Total | -24,810 | 60,033 | 177.61 | 1.36 | 84,843 | 307.73 | 2.20 |
| Aspen Pharmacare Holdings Ltd. | 110,462 | 1,798,411 | 236.31 | 1.81 | 1,687,949 | 197.14 | 1.41 |
| Pharmaceuticals and Biotechnology Total | 110,462 | 1,798,411 | 236.31 | 1.81 | 1,687,949 | 197.14 | 1.41 |
| AngloGold Ashanti plc | -81,548 | 117,079 | 192.29 | 1.48 | 198,627 | 284.66 | 2.03 |
| Gold Fields Ltd. | -157,459 | 229,179 | 174.29 | 1.34 | 386,638 | 280.59 | 2.00 |
| Northam Platinum Holdings Ltd. | 238,644 | 1,531,054 | 520.74 | 4.00 | 1,292,410 | 435.68 | 3.11 |
| Precious Metals and Mining Total | -363 | 1,877,312 | 887.32 | 6.81 | 1,877,675 | 1,000.93 | 7.14 |
| Property positions individually less than 1% of fund | 0 | 0 | 15.83 | 0.12 | 0 | 16.48 | 0.12 |
| Real Estate Total | 0 | 0 | 15.83 | 0.12 | 0 | 16.48 | 0.12 |
| Adidas-Salomon AG | -51,020 | 0 | 0.00 | 0.00 | 51,020 | 167.70 | 1.20 |
| Retail Total | -51,020 | 0 | 0.00 | 0.00 | 51,020 | 167.70 | 1.20 |
| We Buy Cars Holdings Ltd. | 71,225 | 4,625,519 | 183.17 | 1.41 | 4,554,294 | 217.83 | 1.55 |
| Retailers Total | 71,225 | 4,625,519 | 183.17 | 1.41 | 4,554,294 | 217.83 | 1.55 |
| Bytes Technology Group plc | -1,755,538 | 0 | 0.00 | 0.00 | 1,755,538 | 143.02 | 1.02 |
| Naspers Ltd. | -21,659 | 653,092 | 562.94 | 4.32 | 674,751 | 745.27 | 5.32 |
| Prosus NV | 112,308 | 470,687 | 361.79 | 2.78 | 358,379 | 366.81 | 2.62 |
| Software and Computer Services Total | -1,664,889 | 1,123,779 | 924.73 | 7.10 | 2,788,668 | 1,255.10 | 8.96 |
| Amazon.Com | 2,960 | 48,910 | 171.57 | 1.32 | 45,950 | 176.70 | 1.26 |
| Contemporary Amperex Technology Co | 186,205 | 186,205 | 185.34 | 1.42 | 0 | 0.00 | 0.00 |
| Meta Platforms Inc | 5,322 | 21,878 | 206.78 | 1.59 | 16,556 | 182.33 | 1.30 |
| Taiwan Semiconductor Manufacturing Co Ltd | 181,000 | 181,000 | 171.02 | 1.31 | 0 | 0.00 | 0.00 |
| Taiwan Semiconductors | -242,000 | 0 | 0.00 | 0.00 | 242,000 | 197.93 | 1.41 |
| Technology Total | 133,487 | 437,993 | 734.71 | 5.64 | 304,506 | 556.96 | 3.97 |
| Sea Ltd. (Singapore) | 36,662 | 137,599 | 189.61 | 1.46 | 100,937 | 214.25 | 1.53 |
| Telecom Total | 36,662 | 137,599 | 189.61 | 1.46 | 100,937 | 214.25 | 1.53 |
| MTN Group Ltd. | 55,248 | 1,385,422 | 270.78 | 2.08 | 1,330,174 | 225.46 | 1.61 |
| Telecommunications Service Providers Total | 55,248 | 1,385,422 | 270.78 | 2.08 | 1,330,174 | 225.46 | 1.61 |
| Portfolio Total | 12,244,717 | 61,188,599 | 13,030.56 | 100.00 | 48,943,882 | 14,014.90 | 100.00 |